MRKD trade ideas
Merck & CO $MRKAfter hitting 100SMA, it went down and seems that found its support which worked several times before. It may attract the buyers again
12 months Consensus Price Target: $94.21
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Merck has upside to $82Analyst forecasts for Merck earnings came down sharply early this year, but lately they've stabilized and even ticked upward a little. Merck is still priced for an optimistic market, with forward P/E around 15 and PEG around 2-3. This is reasonable for a large cap company with 3% dividend and a great reputation, but it's not bargain pricing, exactly. A second round of lockdowns or a second wave of Covid-19 could hurt the stock again.
But as long there's no major deterioration of the macroeconomic outlook, the fair value range for Merck is about $75-82 per share. Analysts have been slow to make any forecasts for 2022 due to macroeconomic uncertainty, but I predict that the top end of the fair value range will shift upward to $87 per share once the 2022 forecasts finally come in.
Merck is oversold today on the hourly RSI and curling upward. MACD is below the signal line, but also curling upward. A few minutes ago Merck announced an FDA approval to expand the label for GARDASIL, its HPV drug. I suspect this may function as a catalyst to send Merck back upward toward $82 per share. I bought some shares after-hours, and if I can get in cheap enough, I will consider some call options tomorrow with maybe a one-month expiration.
Merck & Company Inc (MRK - NYSE) - Impulse wave upMerck & Company Inc (MRK - NYSE) is in internal 3rd of 3rd wave up (or C wave - in any case it will direct upside). It is about to complete 1st minor wave of 3rd internal wave after which only entry will be possible. But watch the invalidation level closely to maintain stops.
Merck Going All the Way UPAfter bottoming out last month, Merck has always had some tough time passing over $90 for the last couple of year. Well seem like the time is need and even breaking $100 is possible.
Mrk forming a cupMRK is forming a cup and is heading up. It just finished recent downtrend do to it's was overbought. It could go up to $85 area. It also hit the support. MRK is neither overbought not oversold.
Concave illustrate of MRK......!!!Concave describes an inward curve; its opposite, convex, describes a curve that bulges outward. They are used to describe gentle, subtle curves, like the kinds found in mirrors or lenses.
A graph is said to be concave up at a point if the tangent line to the graph at that point lies below the graph in the vicinity of the point and concave down at a point if the tangent line lies above the graph in the vicinity of the point.
A point where the concavity changes (from up to down or down to up) is called a point of inflection (POI).
MRK Long, down trend line break and demand zone confirmedCondition:
#1 demand zone confirmed
#2 Down trend line break
Estimate: Gap (G1) up in next two days.
Earning Date: 7/28/2020. It will not affect this trading plan.
Stock Entry: Below 77.5
Stop: 75
Target1: 85; risk/reward=1:3
Target2: 88; risk/reward=1:4
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Merck - Test of Support LikelyThe lack of strength of the recent rally and the downward trend suggests a short-term test of support.
Rounded top Chart Pattern of MRK:What Is A Rounding Top Chart Pattern ? A chart pattern used in technical analysis which is identified by price movements that, when graphed, form the shape of an upside down “U”. A rounding top may form at the end of an extended upward trend and indicates a reversal in the long-term price movement.
A rounding top represents a sell signal . The initial upwards trend becomes exhausted as the demand for the stock dries up.
The reversal to the downward slope of the rounding top indicates that demand has tapered off and a surplus supply is present, basically there are more sellers than buyers.
The price will be move so far in-case of breakout any side cause, the pattern is too tight.
Pullback at a minimumWe have Kumo resistance as well as a prior swing high. This almost looks like a Inv HnS forming, and so I expect at least a pullback to form the right shoulder. At best, it's a complete capitulation.
